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- 2011-7-11
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4#
发表于 2011-7-13 16:13
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can i just clarify, the gain is $22,000 right? ie it's not a loss of $22,000? (I'm getting confused by the - sign, not sure if you mean a dash or a minus)
here's how to work these out, as I understand it, please correct me if I'm mistaken.
1) work out historical cost of asset. (the difference between the current value of plant and equipment, which doesn't include the asset because it was sold, and the year prior.)
$780,000 - $700,000 = $80,000
2) work out the accumulated depreciation on the asset: Accumulated depreciation for the year prior + current year's depreciation expense - ending accumulated depreciation.
$224,000 + $31,000 - $230,000 = $25,000
3) Asset book value = historical cost - accumulated depreciation
= $80,000 - $25,000 = $55,000.
The profit or loss on the sale is calculated as sale price - book value. From this, you can rearrange to get the sale price
ie 22,000 = x - $55,000
x = $77,000 |
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